LIC Single Premium Endowment Plan 917 Maturity Calculator

The endowment plan 917 has death benefits, maturity benefits, and participation benefits. It assures a good amount of money in case of premature death or when the policy reaches maturity. As it is a participating policy, it participates in the profits of LIC, and bonuses are acquired throughout the policy term. These bonuses are paid to the insured at the end of maturity, along with the Sum Assured on maturity. 

Details of the Plan

• Anyone between the age of 90 days and 65 years of age can buy this plan. 

• The policy term can be anywhere between 10-25 years. 

• The minimum age required at the maturity of the plan is 18 years, and the maximum age required is 75 years. 

• The minimum Sum Assured under this plan is Rs. 50,000, and there is no upper limit to the maximum amount. 

• Premium can only be paid as a one-time investment at the commencement of the policy.

• The Sum assured on death is affected by another factor – risk commencement. It means that if the insured dies before the risk commencement of the policy, then the Sum Assured on death would be the premium, excluding taxes and bonuses. However, if the insured dies after the risk commencement of the policy, then the Sum Assured on death would include the additional bonuses.

• The risk commencement works for anyone of 8 years of age or above.

How are the Premium and Sum Assured on Maturity Decided?

The Sum assured of maturity depends on many factors. When a customer is looking for an insurance plan, it is assumed that they have certain requirements in mind. These usually include the number of years they want to provide financial protection to their family after their demise. They might also have a certain amount in mind that they would want at maturity in return for an investment. 

Based on these factors, the sum assured is decided. The higher the Sum assured on maturity, the higher would be the premium. The premium also depends upon the age of the insured, the policy term, and other extra benefits. It means if a customer is willing to pay a higher premium, then he/she can raise the Sum assured on maturity. This will ensure a higher return for higher investment.

What is the LIC Single Premium Endowment Plan 917 Maturity Calculator?

It is a computerized tool available online for LIC customers who have bought the single premium endowment plan 917. As the name suggests, it is a maturity sum calculator tool and gives an estimated value.

Suppose a customer has invested in this plan and is wondering, how much the plan would yield at the end. This tool is customized just for them. It would ask the customer to input specific details about the policy and some personal details. Based on the information provided, it calculates and displays the approximate maturity sum that the customer can expect. It also shows the approximate bonus amounts, surrender value, etc. As it is a single premium plan, the customers are always apprehensive about how much their invested money would profit. This calculator is of great help to those customers!

How to use the LIC Single Premium Endowment Plan 917 Maturity Calculator?

The LIC single premium endowment plan 917-maturity calculator is available online on various trusted websites. The first step would be to find the calculator. The next step would be to keep the policy details handy. As the page comes up, the customer would see blank fields. They need to put their values and details accurately there and click on the submit button. Work done! It won’t take up much time and will display the desired results soon.

The LIC single premium endowment plan 917 maturity calculatorasks for a few personal details and specific policy details. Following are the personal details the customer needs to share:

• Date of birth of the insured.

• Gender of the insured.

• Mobile number.

Following are the policy details asked for the LIC 917 plan maturity calculator:

• Date of commencement of the policy.

• The date on which the premium was paid.

• Payment mode by which the premium was paid.

• The amount of premium paid.

• The Sum that is assured.

• The policy term.

Here are the steps that you can easily follow to use the calculator:

Step 1: Enter your age (nearest birthday).

Step 2: Select the policy term (between 10 and 25 years).

Step 3: Enter the sum assured (minimum ₹50,000).

Step 4: Click ‘Calculate’.

After entering these details, the LIC 917 plan premium calculator will show you:

• Your premium amount

• Estimated maturity benefit

• Death benefit

With this information you can decide if the LIC 917 Plan is right for you.

Advantages of the LIC Single Premium Endowment Plan 917 Maturity Calculator

Imagine having a tool that provides quick and accurate insights into your policy’s future returns. This calculator simplifies the process, offering you a clear overview of how your investment could grow over time. Following are its top advantages:

• Get a Clear Picture: When customers are unsure about how much their policy would yield in the end, this calculator can give a rough idea.

• Estimate Your Bonus: It not only tells the approximate maturity value. It also tells how much bonus amount the policy is expected to acquire throughout the policy term.

• Understand Your Surrender Value: If a customer is thinking about surrendering the policy but is unsure how much this plan would yield, this calculator can tell the policy's surrender value.

• Plan Your Finances: As the customer gets a rough idea of how much he/she can expect at the end of the policy, it can help make further financial plans.

• Convenience at Your Fingertips: The LIC endowment plan 917 maturity calculator is readily available online and is easy to use.

• Quick & Simple: It asks for very basic details to provide the required information and does not take much of the customer’s time.

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Disclaimer: Policybazaar does not endorse, rate, or recommend any particular insurer or insurance product offered by an insurer.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply.

**Tax benefit is subject to changes in tax laws. Standard T&C apply.